In 1913, Congress purposefully created the Federal Reserve as an independent central bank, which created a fundamental … of the Federal Reserve System. A central bank’s independence, however, is the key tool to ensure a government will not …

While the goals that guide monetary policy in different countries are very similar, central banks diverge in their … methods of implementing policy. This study of the policy frameworks of four central banks—the Federal Reserve, the European … Central Bank, the Bank of England, and the Swiss National Bank—focuses on two notable areas of difference. The first is the …